The 2007-09 financial crisis. The evolution of the financial markets in the last years has seen a progressive growth of financial intermediaries. The structure of the liabilities of the financial markets has gotten further therefore from the traditional model of commercial banking and it has made unstable the input of the financial system. In this context increasing quotas of transactions were guaranteed by collateral in order to strengthen the system. But the value of collateral is not an exogenous and stable variable. The increase of the haircuts means a reduction of the market value of collateral and a credit contraction to the real economy

La crisi finanziaria del 2007-08 / G. Pizzutto. - Milano : Department of Economics in Milano university, 2009 Dec 10.

La crisi finanziaria del 2007-08

G. Pizzutto
Primo
2009

Abstract

The 2007-09 financial crisis. The evolution of the financial markets in the last years has seen a progressive growth of financial intermediaries. The structure of the liabilities of the financial markets has gotten further therefore from the traditional model of commercial banking and it has made unstable the input of the financial system. In this context increasing quotas of transactions were guaranteed by collateral in order to strengthen the system. But the value of collateral is not an exogenous and stable variable. The increase of the haircuts means a reduction of the market value of collateral and a credit contraction to the real economy
10-dic-2009
Financial intermediation ; Collateral ; Financial crisis
Settore SECS-P/02 - Politica Economica
http://EconPapers.repec.org/RePEc:mil:wpdepa:2009-37
Working Paper
La crisi finanziaria del 2007-08 / G. Pizzutto. - Milano : Department of Economics in Milano university, 2009 Dec 10.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/2434/70239
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